TORONTO, ONTARIO--(Marketwire - May 14, 2012) - Amerix Precious Metals Corporation, (TSX VENTURE:APM)(FRANKFURT:NJGN) ("Amerix" or the "Company"), is pleased to report that it has entered into an agreement ("the Agreement"), whereby Amerix has optioned adjacent exploration properties (2 property groups) immediately to the west of the Company's 100% owned Limão Gold Property ("Limão Property"), located in the Tapajós Gold Province, Para State, Brazil. The Company's geologists believe there is favorable gold exploration potential at these properties, consisting of almost 7000 hectares and located along the Tocantinzinho gold trend of Brazil.
The terms of the Agreement allow for staged payments to the local vendors consisting of cash (Brazilian Reals ("R$") R$1,000,000) and Amerix common shares (650,000 shares) over 4 years followed by success payments of R$500,000 for positive Feasibility Studies at either of the properties. In the event of a production decision at either of the properties, a payment of R$1,000,000 will be payable upon reaching commercial production. In addition a 1.0% Net Gold Sales Royalty will be payable to the vendors.
The Agreement is subject to the approval of the TSX Venture Exchange, the approval of the Company's Board of Directors and is subject to due diligence by Amerix over a 6 month period.
Amerix plans to investigate the projection of structural features that may extend across these new properties. These structures are believed to control gold mineralization at the adjoining Limão Property. The Company's exploration team will also be focused upon old surface workings indicated from historical reports on the region. The Company's work will initially consist of reconnaissance mapping and grab sampling followed by localized geochemical grid sampling in areas of interest.
Amerix has recently contracted Energold Perfurações Ltda, of Brazil to complete a drill program at the Limão Property. Drilling is expected to begin over the next few weeks. Amerix's exploration programs at the Limão Property have delineated multiple, anomalous gold geochemical zones with three zones outlined in an earlier press release (News Release-2012-05 dated April 18, 2012) to be tested in this initial drill campaign.
Mr. Ryan Grywul, P. Geo., Vice President, Corporate Development for Amerix, and a qualified person as defined in National Policy 43-101 is responsible for all technical information contained in this news release.
Amerix is excited by the potential of the Limão Gold Property and these adjacent concessions located in the historically gold rich Tapajós district of Brazil.
About Amerix Precious Metals Corporation
Amerix Precious Metals Corporation is an Ontario company, managed by an experienced team, exploring for precious metals in Brazil. Amerix's objective is to create value for shareholders through the delineation and expansion of bedrock gold resources, and realization of value from placer and tailings gold resources at the Company's properties. Brazil has significant gold potential and is a proven mining-friendly country. Amerix will continue to seek exploration properties of merit via staking, acquisition or merger. The Company's shares trade on the TSX Venture Exchange under the symbol "APM" and at the Frankfurt Stock Exchange under the symbol "NJGN".
Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange and, among others, the Ontario Securities Commission as well as under the heading "Risk Factors" in the Management Discussion and Analysis.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.